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High Potential Start-ups and Competitive Start Fund

High Potential Start-ups and Competitive Start Fund. 14 th October 2013. What we will cover. What I Will Cover. 1. 1. High Potential Start-ups. Agenda. 2. 2. Supports from Enterprise Ireland. 3. Competitive Start Fund. 2. Projects we invest in. Eligible

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High Potential Start-ups and Competitive Start Fund

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  1. High Potential Start-upsand Competitive Start Fund 14th October 2013

  2. What we will cover What I Will Cover 1 1 High Potential Start-ups Agenda 2 2 Supports from Enterprise Ireland 3 Competitive Start Fund 2

  3. Projects we invest in Eligible • Manufacture or internationally tradable service • Management control in Ireland High Potential • Usually based on technological innovation • Export oriented • 10 employees within 3/4 yrs, Sales > €1m

  4. Start-up Island 900 300 150 100

  5. Challenge of Scaling REVENUES > €50m 9.4 Years Achieved by 1.3% >€20m 8.1 years Achieved by 4% > €10m > €5m 7.2 Years Achieved by 8% > €1m 6.8 Years Achieved by 16% 4.1 Years Achieved by 45%

  6. EI Assistance We’re a Development Agency The support you can get from us depends on where you are. • Validating the Business Idea • Get to Investor Readiness • Build Business Plan • Raising First Investment • Growing the Business

  7. Validating the Business Idea Incubators (Dublin) NDRC Launchpad Dogpatch Wayra Propellor Nova UCD, TCD campus program;  Ustart [DCU accelerator] Dundalk Smart Start Greenhouse [virtual incubator] Foodworks  HealthXL Startup Bootcamp Guinness Enterprise Centre • Entrepreneur Support Groups • Thousand Seeds • Entrepreneurs Anonymous • Startup Grind • Lean Startup EI website Information Store Enterprise Start Enterprise Start 2 Internet Competitive Feasibility Funds Business Innovation Centres

  8. Get to Investor Readiness A Range of Supports Mentor Value Proposition workshop EI Overseas Office Investor Workshops Pitch preparation Trade Fairs Market Information Centre Value Proposition Workshop €5k Innovation Voucher €15k FeasibilityGrant Introduction to VCs Introduction to Business Angels

  9. Coming Attraction........................... Very early stage…

  10. HPSU Investment Average initial investment €250k • Due Diligence - the Business Plan • Market Risks • Execution Risks • Financial Risks Level of EI funding depends on exports, jobs & cash need EI Investment is in equity [CCRPs] Minimum of matching external funding

  11. Funding Pre-Seed Seed Funds €124 million VC Funds €520 million

  12. Supports early stage start-ups Competitive call 4 times per year Funding = €50k matched with €5K from companies 10% Equity Panel of Serial entrepreneurs select the winners 75 companies in 2013 [5 X 15] Promoters are younger 20% Female Broad or targeted [Digital Media, Female, Aviation etc.] SPRINT development programme After New Frontiers…

  13. Accelerators that assist their participants do better Online Application; prepare early, sample forms on EI website Video pitch; rehearse, try out on Sonru website Live pitch to the panel of entrepreneurs and EI; rehearse for maximum impact, show there is a team, Apply early; get feedback to apply again Preparation; organise some group sessions Mentors; Get local promoters who have been successful at CSF to assist Suggestions to assist applicants….

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